Back in my home state, Tennessee, sports-centric bloggers claim to be relishing in Memphis' loss last night in the NCAA tournament.
I'm sure they relish the loss. It's the classic institutional schadenfreude (last time I missed an adult spelling bee word was on that one; I outsmarted myself, but went on to win several hundred dollars worth of reference books).
What those bloggers meant to say was that they "revel in" the loss of a hated opponent.
From the Middle English revelen, a revel is an occasion of merrymaking or noisy festivity with dancing, masking, etc. (dictionary.com). As a verb used without an object, it is to take great pleasure or delight, or to engage in revelry - make merry, indulge in boisterous festivities.
Relish, on the other hand, as used, means liking or enjoyment of the taste of something. From time to time, I relish relish. I seldom, though, revel in the feeling.